US options traders bet Wall Street stocks will build on record highs

Purchases of call options, which confer the right to buy a stock at an agreed price, have surged since November’s US election and Covid-19 vaccine breakthroughs, according to exchange operator Cboe. The daily trading volumes of call contracts, which are effectively a bet on rising prices, have far outpaced put options, which give the buyer a right to sell shares at a set level.